Brokerages Anticipate Principia Biopharma Inc (PRNB) to Post ($0.59) Earnings Per Share

Principia Biopharma Inc (NASDAQ:PRNB) has received an average broker rating score of 1.00 (Strong Buy) from the five analysts that cover the company, Zacks Investment Research reports. Five equities research analysts have rated the stock with a strong buy recommendation.

Analysts have set a one year consensus target price of $43.00 for the company and are expecting that the company will post ($0.59) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Principia Biopharma an industry rank of 50 out of 255 based on the ratings given to its competitors.

Several research analysts have recently weighed in on PRNB shares. Zacks Investment Research cut shares of Principia Biopharma from a “buy” rating to a “sell” rating in a report on Wednesday, January 9th. Stifel Nicolaus initiated coverage on shares of Principia Biopharma in a report on Tuesday. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Leerink Swann set a $42.00 target price on Principia Biopharma and gave the company a “buy” rating in a research note on Thursday, March 21st.

A number of hedge funds and other institutional investors have recently made changes to their positions in PRNB. Strs Ohio acquired a new position in Principia Biopharma in the 4th quarter valued at $41,000. Citigroup Inc. acquired a new position in shares of Principia Biopharma during the 4th quarter valued at about $45,000. American International Group Inc. acquired a new position in shares of Principia Biopharma during the 4th quarter valued at about $103,000. Citadel Advisors LLC acquired a new position in shares of Principia Biopharma during the 3rd quarter valued at about $211,000. Finally, Deutsche Bank AG acquired a new position in shares of Principia Biopharma during the 4th quarter valued at about $204,000. Institutional investors own 81.91% of the company’s stock.

Shares of PRNB stock traded up $0.63 during trading on Friday, reaching $29.64. The company had a trading volume of 67,094 shares, compared to its average volume of 96,411. Principia Biopharma has a one year low of $22.00 and a one year high of $38.34. The company has a market capitalization of $692.32 million and a price-to-earnings ratio of 52.00.

Principia Biopharma (NASDAQ:PRNB) last issued its quarterly earnings results on Tuesday, March 19th. The company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.68. The business had revenue of $26.14 million during the quarter, compared to the consensus estimate of $13.70 million. Sell-side analysts predict that Principia Biopharma will post -2.51 earnings per share for the current fiscal year.

Principia Biopharma Company Profile

Principia Biopharma Inc, a clinical-stage biopharmaceutical company, focuses on developing novel oral therapies for immunology and oncology in the United States. It is developing PRN1008, an inhibitor that is in Phase II clinical trial for the treatment of pemphigus, a chronic skin disease, as well as in Phase II clinical trial for the treatment of immune thrombocytopenic purpura; PRN2246, an inhibitor that is in Phase I clinical trial for the treatment of multiple sclerosis and other central nervous system diseases; PRN1371, a drug candidate, which is in Phase I clinical trial for the treatment of solid tumors; and oral small molecule inhibitors of the immunoproteasome.

Featured Article: Why Net Income is Important to Investors

Get a free copy of the Zacks research report on Principia Biopharma (PRNB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Principia Biopharma (NASDAQ:PRNB)

Receive News & Ratings for Principia Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principia Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.